Workers Comp Major Changes
We now have six signals for Workers Comp major changes. The Death of Workers Comp was our most popular blog post since I started it. I have heard from many readers that say “no way.”
Below is a list of things to make one think further about the changing WC landscape.
1. The Feds will have all Workers Comp data from the CMS database soon. They can analyze it to their advantage.
2. Senator Byrd from WV – very powerful – has twice tried to add 24 hour coverage amendments to different bills.
3. The Federal Insurance Office (FIO) was quietly created in a finance package.
4. At a major rating bureau conference, the main presenter said “They may not get all they want now, but the Feds will keep expanding their powers into WC every year.”
5. Twenty years ago, no one would have thought that we would have a nationalized health care system – but we do now.
6. It was a river to cross to have 24 hour healthcare coverage in the past, now it is a small stream to step over. The AFLAC model is the best example.
Workers Comp is not soon going away. If anyone believes it will not change quickly – six letters – CMS MSA. The way that claims departments settle files changed greatly since having to have CMS approval to mood forward. The CMS WCMSA represents just one workers comp major change in the last few years. More are coming.
©J&L Risk Management Inc Copyright Notice
